500 Escudos Metical #352

Front

Caldas Xavier (1877–1917), Portuguese military officer and colonial administrator who served in Mozambique and played a role in Portuguese East Africa's colonial military operations. He is depicted in military uniform. This note is an overprint issue of the Banco Nacional Ultramarino for the Province of Mozambique, with black overprint 'BANCO DE MOÇAMBIQUE QUINHENTOS ESCUDOS' and date 'LISBOA 22 DE MARÇO DE 1967' across the original design. The Portuguese colonial coat of arms appears at center top, with decree reference 'DECRETO LEI Nº 39.221'.

Back

The Banco de Moçambique building in Maputo (formerly Lourenço Marques), the modernist headquarters of Mozambique's central bank. The building is shown as a multi-story modernist structure with distinctive architectural features typical of 1960s design. The national emblem of the People's Republic of Mozambique appears at upper right with the date 'MAPUTO, 16 DE JUNHO DE 1983', indicating a later overprint. The text 'CINQUENTA MIL METICAIS' appears at top, reflecting currency reform.

History

This note represents a complex monetary history. Originally issued by the Banco Nacional Ultramarino as a 500 Escudos note on March 22, 1967 during Portuguese colonial rule of Mozambique (decreto lei 39.221), it was later overprinted by the independent Banco de Moçambique. After independence in 1975, Mozambique replaced the Escudo with the Metical in 1980. This particular note shows evidence of being overprinted on June 16, 1983 with a revaluation to 50,000 Meticais during a period of hyperinflation. The serial numbers differ between front (10002819) and back (EH3504729), which is consistent with overprint practices where new serial numbers were applied. The Banco Nacional Ultramarino was a Portuguese overseas bank that issued currency for Portugal's African colonies until independence. Pick-118 catalogues the original 500 Escudos issue of 1967.